Mirae Asset Global REIT readying secondary offering of $360 mn July

Mirae Asset Global REIT, real estate investment trust operator backed by Mirae Asset Global Investments, is seeking secondary offering of 460 billion won ($358.1 million) next month to finance purchase of 11 new property assets across California, Utah, and Texas in the U.S. The new shares are allocated 50% to institutions, 30% to retailers, and 20% to existing shareholders at 4% to 8% discount depending on demand. Book-building will be held on July 14 for institutional before public subscription July 19-20. Shinhan Investment Corp. and DB Financial Investment are underwriters. The new issues would bump up market cap up to 640 billion won.

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